Canadian pot stock Tilray (NASDAQ: TLRY) got investors excited this year, following the announcement of a mega-merger deal with Aphria (NASDAQ: APHA) in December 2020. The marijuana industry, which saw surging sales last year, received a further boost from this merger news.
Investors have enjoyed some solid gains from the dramatic surges of these two stocks, and are hoping for more upside before the merger is completed. Tilray’s stock has gained 206% so far this year, while Aphria has surged 178% — more than double the gain of 68% for the industry benchmark, the Horizons Marijuana Life Sciences ETF.
Both Tilray and Aphria claim the merger will create the largest cannabis company in the world in terms of pro forma revenue. The deal is expected to close by the second half of this year. Now, investors are wondering whether it’s too late to purchase Tilray stock. Is there still more upside to be found? Before you make that decision, here’s why you should — or should not — consider Tilray now.